Newstead Foundation

Foundation · Grantmaker Old Saybrook, CT EIN: 22-6054885

Newstead Foundation is a private foundation, based in Old Saybrook, CT. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $793K in total assets. In 2024, it awarded 7 grants totaling $71K.

Key facts about Newstead Foundation

EIN: 22-6054885
Latest 990 filing: Form 990-PF, 2024
Annual giving (2024): $71,050
Grants made (2024): 7
Average grant: $10,150
Median grant: $10,000
Total assets: $792,698
Primary geography: Virginia (45% of itemized 2024 grant dollars)

Data from IRS Form 990-PF, 2024; updated April 2026.

Who Newstead Foundation funds

By grant dollars, the top recipient states for Newstead Foundation's 7 itemized 2024 grants were Virginia (45%), Connecticut (35%) and South Carolina (14%). 100% of grants with a stated purpose were for general or operating support.

How Newstead Foundation gives

Giving fell 22% from 2021 to 2024. Method
In 2024 it paid out 108% of its IRS minimum distribution (the 5% rule). Method

From the foundation's IRS Form 990-PF filings. Methodology.

Next steps with Newstead Foundation

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Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$793K

-12.4% YoY

Annual Giving

$71K

+610.5% YoY

Grant Count

+600.0% YoY

Avg Grant Size

$10K

+1.5% YoY

Under IRS private-foundation payout rules, Newstead Foundation reported a distributable amount of $66K for 2024 — the minimum it must pay out in qualifying distributions.

About Newstead Foundation

Based on IRS filings

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

Virginia $32K (45%)

Connecticut $25K (35%)

South Carolina $10K (14%)

California $4K (6%)

Share of all 7 itemized 2024 grant dollars.

States

California Connecticut District of Columbia Florida Kentucky Massachusetts New York South Carolina Tennessee Virginia

Cities

UppervilleMiddleburgAldieCamdenWestportCazenoviaHaymarketLeesburgLexingtonWashingtonWellingtonLaguna HillsArlingtonBridgehamptonFranklinMemphisSacramentoWestwood

Financial History

Multi-year comparison from IRS filings

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$792,698	$904,668	$878,920
Revenue	$-37,905	$32,967	$153,699
Expenses	$94,006	$21,919	$159,038
Qualifying Distributions	$71,050	$10,000	$142,500
Net Investment Income	—	$21,048	$137,161
Distributable Amount	$65,568	$54,772	$58,657

Data update history

When this profile's IRS filing data changed on Grantable

March 2, 2026 IRS filings on file for fiscal years 2020–2024

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 7 recipients in 2024

Grant Size Distribution

50 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest recipients include Equus Foundation Inc ($25,000), Sprout Therapeutic Riding Center ($20,000), Foxcroft School ($10,000).

Recipient	Purpose	Amount
EQUUS FOUNDATION INC Westport, CT	GENERAL USE	$25,000
SPROUT THERAPEUTIC RIDING CENTER Aldie, VA	GENERAL USE	$20,000
FOXCROFT SCHOOL Middleburg, VA	GENERAL USE	$10,000
DANNY & RON'S RESCUE Camden, SC	GENERAL USE	$10,000
NAMI-NAT'L ALLIANCE MENTAL ILLNESS Arlington, VA	GENERAL USE	$2,040
SHELDRICK WILDLIFE TRUST USA Laguna Hills, CA	GENERAL USE	$2,010
RED ROVER-THE PURPLE LEASH Sacramento, CA	GENERAL USE	$2,000

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

No officer or director reported compensation in the available filings.

From 2024 IRS filing

Name	Title	Hours	Compensation
Alison F Robitaille	Trustee	—	—
Richard F Pappalardo	Trustee	—	—

Frequently Asked Questions

How large is Newstead Foundation?

As of 2024, Newstead Foundation holds $793K in total assets with $-37,905 in annual revenue. It awarded 7 grants totaling $71K in 2024.

Where does Newstead Foundation operate?

Newstead Foundation has awarded grants in California, Connecticut, District of Columbia, Florida, Kentucky, Massachusetts, New York, South Carolina, Tennessee, Virginia.

What size grants does Newstead Foundation award?

In 2024, Newstead Foundation awarded 7 grants totaling $71K — an average of about $10K per grant, based on its IRS Form 990 filings.

How much is Newstead Foundation required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Newstead Foundation reported a distributable amount of $66K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.